Market Definition:
An electric scooter is a two-wheeled, battery-powered personal transportation device designed for short-distance urban commuting. Characterized by its compact size and electric motor, these scooters are environmentally friendly and contribute to reduced emissions in urban areas. Typically featuring a handlebar for steering and a platform for the rider’s feet, electric scooters are gaining popularity as an efficient and convenient mode of transportation, offering an alternative to traditional gasoline-powered vehicles for short trips and last-mile connectivity.
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Market Outlook:
The global electric scooters market is witnessing significant growth, driven by the increasing demand for fuel-efficient vehicles and a growing awareness of Greenhouse Gas (GHG) emissions. Stringent emission norms set by government agencies worldwide, such as the U.S. Environmental Protection Agency (EPA) and BS-VI in India and China, are fostering the adoption of electric scooters. E-scooters, known for their high mechanical efficiency and low maintenance requirements, are gaining popularity, especially as they become part of shared mobility ecosystems. Despite initial challenges during the COVID-19 pandemic, the industry is experiencing a resurgence post-pandemic, fueled by government initiatives, tax rebates, and policy changes. Companies like Razor, Lime, and Bird, involved in e-scooter sharing services, are contributing to this growth, along with incentives for battery-operated two-wheelers. The focus on sustainable urban mobility, smart transportation infrastructure, and global government subsidies further support the positive growth of the electric scooters market.
Moreover, as global awareness of greenhouse gas emissions and environmental concerns rises, governments worldwide are actively offering subsidies to encourage the adoption of electric vehicles, including electric scooters. For instance, Austria is planning to provide subsidies ranging from 700 to 800 euros for class L1e electric two-wheelers and from 1,000 to 1,200 euros for class L3e electric two-wheelers, encompassing e-mopeds, e-motorbikes, e-bikes, and e-cargo bikes. Moreover, various states have implemented financial incentives such as rebates, tax credits, and registration fee reductions to promote the widespread adoption of electric vehicles, contributing to the increasing demand for electric scooters. The growing awareness among consumers about the benefits of electric bikes is anticipated to further bolster market growth in the years to come.
Market Restraints and Challenges
A key challenges for the electric scooter market is regulatory uncertainty. Governments worldwide are struggling to establish clear and straightforward rules for the use of electric scooters on public roads. This lack of clarity has created confusion for both users and manufacturers, impeding market growth in certain regions.
Moreover, the widespread adoption of electric scooters is contingent upon the development of a robust charging infrastructure and clear regulatory frameworks that address issues such as safety standards, parking regulations, and traffic management. The absence of a standardized infrastructure and evolving regulations pose obstacles to seamless integration into urban mobility systems. Additionally, concerns regarding battery technology limitations, including range anxiety and charging times, impact consumer confidence.
Furthermore, competition from alternative modes of transportation. Despite being convenient and environmentally friendly, electric scooters face tough competition from bicycles, electric cars, and public transport. To stay competitive, manufacturers of electric scooters must consistently innovate and enhance their products.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Electric Scooters Market Segmental Overview
The report analyses the Electric Scooter Market based on drive type, battery technology, voltage type, end-user, and region.
Key Players:
Hero Electric (India)
Yadea Technology Group (China)
NIU International (China)
Mahindra GenZe (U.S)
Ather Energy Pvt. Ltd. (India)
Gogoro Inc. (Taiwan)
Terra Motors Corporation (Japan)
Okinawa Autotech (India)
Vmoto Limited (Australia)
Torrot Group (Spain)
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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2023 – $33.3 Bn
• Market Size in 2033 – $88.7 Bn
• CAGR % – 10.3%
• Historic Period – 2017-2022
• Forecast Period – 2024-2033
• Base Year – 2023
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